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Tag: longterm

Many Americans will eventually need long-term care. Here’s how to pay for it

Finance
Morsa Images | DigitalVision | Getty ImagesChances are, you aren't seriously thinking about how to pay for long-term care when you are older.Most people only think about it at two points in their lives: when their parents need it or when they start to get much older and realize they need to have a plan, said Carolyn McClanahan, a physician and certified financial planner at Life Planning Partners in Jacksonville, Florida.Yet someone turning 65 years old today has almost a 70% chance of needing some type of long-term care services in their remaining years, according to the U.S.Department of Health and Human Services. Women need 3.7 years of care, while men need 2.2 years. The average lifetime cost of formal long-term care is $ 172,000, according to PWC. "The big thing that you at least nee...

2020 may tempt people to throw out their long-term plans. Here’s how advisors can keep them on track

Finance
Getty ImagesIt's no secret that 2020 has been an unpredictable year.And that uncertainty can cloud the decisions we make, especially when it comes to money.Consequently, investors and their financial advisors need to be on their guard for clouded decision making that could lead to regrets later."It's possible that the times have triggered a fundamental shift in your priorities," said Sarah Newcomb, director of behavioral science at Morningstar."But what we have to be careful about is temporary shifts in priorities that have to do with short-term thinking, either fear of loss or fear of missing out," she said.Why 'short-termism' is our biggest enemyOxford | Getty ImagesThe problem is that our brains are not wired to handle prolonged uncertainty, Newcomb said.When there's certainty, there's ...
COVID-19 may cause long-term heart problems in children, researchers say

COVID-19 may cause long-term heart problems in children, researchers say

Health
Sept. 4 (UPI) -- Children who suffer heart damage caused by COVID-19 may need lifelong care and treatment, according to a review of existing research published Friday by EClinicalMedicine. Young people who develop multisystem inflammatory syndrome after being infected with the new coronavirus may experience heart-related symptoms similar to those seen with two rare, but serious, conditions called Kawasaki disease and toxic shock syndrome, the researchers said. Advertisement In some, this may include a reduced ability for the heart to pump oxygenated blood to the tissues of the body or development of a heart aneurysm. "This is a new childhood disease that is believed to be associated with [COVID-19], and it can be lethal because it affects multiple organ systems [including] the heart and t...
‘Some victims may never recover’: Long-term effects of COVID-19 could be far worse than first thought

‘Some victims may never recover’: Long-term effects of COVID-19 could be far worse than first thought

World
The long-term effects of COVID-19, even on people who suffered a mild infection, could be far worse than was originally anticipated, according to researchers and doctors in northern Italy.Psychosis, insomnia, kidney disease, spinal infections, strokes, chronic tiredness and mobility issues are being identified in former coronavirus patients in Lombardy, the worst-affected region in the country. The doctors warn that some victims may never recover from the illness and that all age groups are vulnerable. Image: Infection rates have lessened but Italy is seeing the long-term effects COVID-19 has on survivors The virus is a systemic infection that affects all the organs of the body, not, as was previously thought, just a respiratory ...
Coronavirus: NHS England launches tool to aid long-term recovery

Coronavirus: NHS England launches tool to aid long-term recovery

Health
NHS England is launching a new service for people with ongoing health problems after having coronavirus.The government says "tens of thousands" of people have long-term symptoms after catching Covid-19."Your Covid Recovery" will be an online portal for people in England to access tutorials, contact healthcare workers and track their progress.The project will be rolled out in two phases, with the web portal launching later this month.It will only be accessible via a personal log-in and will be available to virus patients who had to be treated in hospital, as well as to those who managed their illness at home.Later in the summer, tailored rehabilitation will also be offered to those who qualify, following an assessment.Each programme will last a maximum of ...